International Consolidated Airlines Group's passenger
revenue rose 4.2 percent year over year in the fourth quarter to 4.77 billion
euros. It was the third quarter in a row the British Airways, Iberia and Aer
Lingus parent's unit revenue improved, thanks to both higher load factors and
stronger yields. Traffic increased 5.8 percent year over year as capacity
increased 3.7 percent, which pushed load factor up 1.6 percentage points to
81.7 percent. IAG reported a fourth-quarter operating profit of 585 million
euros, down 5.6 percent year over year due to changes in its employee bonus
provision, IAG CEO Willie Walsh said. For the full year, its operating profit
was 3.02 billion euros, up 18.9 percent from 2016.
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IAG Q3 earnings